Payment solutions provider Square has announced that for the first quarter of the company’s revenues from the sale of bitcoin was $34.1 million, according to CoinDesk.
In submitted to the Commission on securities and stock exchanges of the USA (SEC) the document States that about 5% of the total income of the company amounted to buying bitcoin through Cash app App. Thus, net profit Square for the first quarter amounted to $223 thousand.
“For the three months ended March 31, 2018, and total revenue from transactions with users was $648,8 million Of which $34.1 million were received from sales of bitcoin. Income from other sources amounted to $19.8 million”, — stated in the document.
Total revenue for the first quarter in the amount of $648,8 increase over the same period last year by 45%.
Note that the head of the company Square the Creator of Twitter Jack Dorsey, who has repeatedly expressed admiration for the possibilities of blockchain technology, calling it the “next great discovery”. In his opinion, the most interesting cryptocurrency may represent for the young generation that uses apps on your smartphone.
Recall that support bitcoin in the app the Cash App from Square was added in November of last year.
ForkLog also previously reported that the company Square has applied for obtaining Regulations.